Bank of the West's Shepherd Participates in FDIC Forum.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Bank of the West President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Michael Shepherd said today that amidst a difficult housing market the bank has maintained its high underwriting standards and has offered innovative home loan products. "About 75% of our mortgage originations come from referrals from our branch network, which is part of our relationship-oriented business model," Shepherd said. "We find that our better credit quality performance is directly related to knowing our customers and the communities we serve." Shepherd spoke at the FDIC-sponsored Forum on Mortgage Lending for LMI LMI Labor Market Information LMI Local Management Interface LMI Logistics Management Institute LMI Linear Matrix Inequality LMI Legemiddelindustriforeningen (Norway) LMI Low to Moderate Income LMI Lender's Mortgage Insurance Households held today in Arlington, Va. Speakers at the forum included FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). Chairman Sheila C. Bair  This biographical article or section is written like a resume.Please help [ improve this article] by revising it to be and encyclopedic. () Sheila C. ; U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Secretary Henry M. Paulson, Jr.; Federal Reserve Board Chairman Ben S. Bernanke; James Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. & Co.; and John Hope Bryant John Hope Bryant (born February 6, 1966) is an American financial literacy and poverty eradication activist, founder of Operation HOPE, author, and the first African-American in history to be knighted by German nobility and the royal House of Lippe. , Chairman and CEO of Operation Hope. Bank of the West is a full-service bank with $62 billion in assets and a diversified portfolio of commercial, consumer and mortgage loans. The bank originates prime mortgages through its nearly 700 branch locations in 19 Western states. In 2007, the bank introduced its Hometown Mortgage Program modeled after Fannie Mae's MyCommunity program. The bank subsidizes the rate on Hometown Mortgage Program loans to be competitive with state bond programs, and it retains the servicing and holds the loans in its portfolio. This provides Hometown Mortgage Program borrowers the advantage of a banking relationship with their mortgage provider. The bank also offers 40-year mortgages and manufactured home loans. "If this current turmoil has taught the industry anything, it is the value of knowing your customer," Shepherd said. "That is part of Bank of the West's tradition, and we have stuck to our relationship model based on offering the right products and by providing extraordinary customer service." In 2008, Bank of the West ranked "Highest in Customer Satisfaction among Retail Banks in the West" by J.D. Power and Associates. Bank of the West originated 27 Hometown Mortgage Program loans, 93% of which were to low- or moderate-income borrowers, in the fourth quarter (the first full quarter the product was offered). The bank originated more than 100 Hometown Mortgage Program loans in the first five months of 2008. Shepherd spoke on a panel titled Reasonable, Profitable and Innovative Approaches to LMI Mortgage Lending. Others on the panel were Eric S. Belsky, Executive Director of the Joint Center for Housing Studies at Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. , Richard L. Carrion, President and CEO of Popular Inc., and Dorothy A. Savarese, President and CEO of The Cape Cod Five Cents Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . Arthur J. Murton, Director, FDIC Division of Insurance and Research, moderated the panel. The forum was Webcast at http://www.vodium.com/goto/fdic/advisorycommittee.asp. About Bank of the West: Founded in 1874 and headquartered in San Francisco, $62 billion-asset Bank of the West is the second-largest commercial bank based in California. Bank of the West offers a full range of business, trust, international and personal banking services. The bank currently operates more than 700 commercial and retail banking locations in 19 Western and Midwestern states. In 2008, Bank of the West ranked "Highest in Customer Satisfaction among Retail Banks in the West" by J.D. Power and Associates. Bank of the West's holding company, BancWest Corporation, is owned by BNP Paribas, a leading global financial services institution ranked by Standard & Poor's as one of the world's four strongest banks. More information is available at www.bankofthewest.com. |
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